Latest finance news – Page 183
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NewsMcColl’s profits slump as it seeks new debt arrangement
Struggling convenience store group McColl’s has posted declining profits and sales figures and confirmed it is in discussion with lending banks about a new debt facility.
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NewsForever 21 names former H&M US boss as new chief executive
The new owners of fast-fashion retailer Forever 21 have named former H&M US president Daniel Kulle as chief executive to steer the business out of bankruptcy.
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NewsHammerson eyes further disposals this year with ‘nothing off the table’
Hammerson is considering further disposals this year and selling stakes in assets across its flagship centre and premium outlet portfolios, according to a senior executive.
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NewsBoux Avenue calls in advisers as it mulls store closures
Boux Avenue has reportedly appointed advisers from Deloitte to discuss a potential insolvency process resulting in store closures.
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NewsTesco exits China with £275m deal
Tesco has sold its 20% holding in Chinese business Gain Land as it increases focus on its core operations.
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NewsHotel Chocolat’s ‘strong’ sales boosted by new store openings
Hotel Chocolat has posted “another strong” set of results, which chief executive Angus Thirwell attributed to offering its customers a “wider variety of sales channels”.
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NewsHammerson profits fall against challenging retail backdrop
Shopping centre owner Hammerson has posted falling profits and rental income during its full-year results.
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NewsPrimark finance boss bullish on coronavirus supply chain issues
Primark finance director John Bason said the value fashion retailer is “under less pressure than other retailers will be feeling” following the outbreak of coronavirus.
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NewsPrimark reports sales rise, but warns coronavirus may hit supply
Primark has reported an uplift in interim sales driven by its new space, but flagged that if coronavirus persists it may result in some product shortages later in the year.
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NewsHammerson sells remaining retail parks at a discount
Institutional landlord Hammerson has confirmed the sale of its remaining portfolio of retail parks at a “wider than expected” discount, as it looks to shore up its balance sheet.
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NewsVictoria’s Secret to go private in $525m deal as CEO exits
Victoria’s Secret is set to be taken private as a controlling stake in the business is acquired by investment firm Sycamore Partners.
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NewsForever 21 bought out of bankruptcy
US-based fast-fashion retailer Forever 21 has been bought out of bankruptcy by three buyers with international ambitions for the brand.
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NewsLaura Ashley losses deepen as chief executive change bought forward
Laura Ashley has reported deepening losses and falling sales in its interim results, which has resulted in Katharine Poulter being promoted to chief executive with immediate effect.
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NewsClosure looms for Beales stores as no buyer emerges
The remainder of Beales department stores are likely to shut after the retailer’s administrator said it had received no “deliverable offers” for the business.
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NewsNearSt clinches £2m in new funding from investors
Retail tech start-up NearSt has raised £2m in seed funding from a number of investors, as the Google-backed business looks to drive more footfall to bricks-and-mortar stores.
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NewsAsda blames ‘challenging market conditions’ for sales slump
Asda has blamed “challenging market conditions” for its fourth-quarter slump in like-for-like sales, particularly in clothing.
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NewsLaura Ashley to ‘consider options’ in scramble to secure funds
Laura Ashley has admitted it will “consider all appropriate options” if it cannot strike a deal to borrow additional cash from its lenders.
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NewsMarks & Spencer fires warning to landlords over loss-making stores
Marks & Spencer has warned its landlords it will shut underperforming stores, placing property owners on red alert for further closures.
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NewsSainsbury’s, Frasers and Shoe Zone plead for business rates reform
The bosses of Sainsbury’s, Frasers Group and Shoe Zone have piled further pressure on new Chancellor Rishi Sunak to reform the business rates system.
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NewsRishi Sunak appointed chancellor as Javid resigns
Chancellor of the Exchequer Sajid Javid has resigned and been replaced by the former chief secretary to the Treasury as part of today’s cabinet reshuffle.